Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,520 per unit and then sells th to retail customers for an average price of $2,900 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $947 per month $4,823 per month, plus 5% of sales $59 per piano sold $656 per month $4,932 per month $13,515 per month $691 per month $2,548 per month, plus $39 per piano sold $911 per month During August, Marwick's Pianos, Incorporated, sold and delivered 60 pianos. Required: 1. Prepare a traditional format income statement for August. 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin.